JPMorgan Chase & Co. boosted its position in shares of Fabrinet (NYSE:FN) by 0.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 96,350 shares of the company’s stock after buying an additional 750 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Fabrinet worth $3,576,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FN. Riverhead Capital Management LLC purchased a new position in Fabrinet during the first quarter worth $148,000. Monarch Partners Asset Management LLC bought a new stake in shares of Fabrinet during the second quarter worth about $230,000. Princeton Alpha Management LP bought a new stake in shares of Fabrinet during the second quarter worth about $289,000. Bayesian Capital Management LP bought a new stake in shares of Fabrinet during the first quarter worth about $292,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Fabrinet by 115.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,979 shares of the company’s stock worth $370,000 after buying an additional 5,339 shares in the last quarter. Institutional investors and hedge funds own 90.80% of the company’s stock.
Fabrinet (NYSE:FN) traded up 1.20% during mid-day trading on Tuesday, hitting $42.10. 19,432 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $42.64 and its 200-day moving average price is $37.46. The stock has a market cap of $1.52 billion, a PE ratio of 25.06 and a beta of 0.65. Fabrinet has a one year low of $20.62 and a one year high of $46.50.
Fabrinet (NYSE:FN) last posted its earnings results on Monday, August 15th. The company reported $0.60 earnings per share for the quarter, hitting the consensus estimate of $0.60. The firm earned $276.40 million during the quarter, compared to analysts’ expectations of $262.95 million. Fabrinet had a return on equity of 13.07% and a net margin of 6.34%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, analysts forecast that Fabrinet will post $2.02 EPS for the current fiscal year.
FN has been the subject of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and issued a $42.25 price objective on shares of Fabrinet in a research note on Friday, August 12th. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Needham & Company LLC upped their price objective on shares of Fabrinet from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 16th. Finally, Stifel Nicolaus upped their price objective on shares of Fabrinet from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $48.11.
In related news, Director Rollance E. Olson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $40.06, for a total transaction of $200,300.00. Following the completion of the sale, the director now owns 44,829 shares in the company, valued at $1,795,849.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David T. Mitchell sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $39.02, for a total value of $2,926,500.00. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN).
Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.